In this past year, the metaverse concept has been thriving, and more and more projects are starting to take form. To make a quick recap, the Metaverse is a linked online realm that can be explored using 3D avatars. Inside these virtual spaces, users can work, socialize, create, and learn. Consider it the next step in the evolution of the online experience.
These Metaverses are created starting from blockchain technology which grants: digital proof of ownership (your private keys on a crypto wallet can prove ownership of your assets or activities on a blockchain), digital collectibility, transfer of value, governance, accessibility, and interoperability (blockchain can make it possible for distinct spaces in the Metaverse to communicate with one another). If you’d like to know more about the Metaverse you can check one of our previous articles right here.
The majority of Metaverse projects are currently games that provide the 3D part of the Metaverse. For harmonizing with Metaverse’s fundamental vision, blockchain offers a secure, cost-effective, and transparent option. With that in mind, let’s take a look at some of the most promising metaverse blockchain projects.
Decentraland
Decentraland is a virtual reality platform backed by the Ethereum blockchain which allows users to create, experience, and monetize their content and applications. Three layers make up Decentraland and these are: track land ownership and its content, download assets using a decentralized distribution system, and enable users worldwide to connect.
Decentraland, in reality, was a well-known metaverse project long before the hype surrounding the Metaverse began to build earlier this year. The simple 2D game created in 2016 has grown into one of the best metaverse crypto ventures, with NFTs valued at hundreds of thousands of dollars. MANA, Decentraland’s native ERC-20 standard utility coin, is also available.
Digital Currency Group (DCG) and global real estate firm Jamestown, owner of One Times Square, recreated the 26-story tower for the famed Ball Drop in a MetaFest 2022 event. Essentially, Jamestown has snapped up 170 LAND and recreated One Times Square, located at -106, -119 on Decentraland to host the celebrations. This is what Jamestown’s CEO Michael Phillips stated about entering the Metaverse:
“The future of real estate is the thoughtful integration of the virtual and physical worlds, optimized for user experience. The Metaverse is an important part of the evolution of real estate and the built environment. While physical real estate is largely limited to people with geographic proximity, the Metaverse can give people around the world meaningful access to places through immersive virtual experiences”.
Peculiarities:
The Sandbox
Originally The Sandbox is a sandbox game (a video game with a gameplay element that gives the player a great degree of creativity to complete tasks towards a goal within the game) created for mobile phones. Sandbox’s brand was acquired in 2018 and used to create the now world-famous blockchain game.
It is now a virtual reality platform where everybody can build, own and monetize their gaming experiences in the Ethereum blockchain using SAND (the token created to buy NFTs). Three things are possible on the Sandbox: create voxel assets using software called vox edit, sell and collect the best assets on the marketplace and build 3D games for free.
NFTs, user-created environments, and other content are all part of The Sandbox’s virtual universe. The Sandbox has grown into a complicated ecosystem where Ether and its native currency, SAND, are used to power the in-game economy.
Players can create their own digital identities and avatars, which they can attach to a cryptocurrency wallet to manage their NFTs and SAND tokens, as well as other blockchain assets. Players can construct virtual objects and games with exclusive economic potential as NFTs using powerful programs.
Peculiarities:
Star Atlas
The final, and probably, one of the most innovative metaverse crypto projects, is Star Atlas. Star Atlas is a next-generation gaming metaverse that combines cutting-edge blockchain, real-time graphics, multiplayer video games, and decentralized financial technology. The use of non-fungible tokens gained and traded within Star Atlas provides an economy that is tangibly similar to real-world assets and ownership. Grand strategy, exploration, role-playing, and space flight simulation are all represented inside the game.
The whitepaper of Star Atlas introduces the game as follows:
Star Atlas is a virtual gaming metaverse based in the year 2620. In this distant future, three major factions have emerged;
These factions are in an ongoing struggle for resources, territorial conquest, and political domination. As a faction citizen of Star Atlas, you will have the ability to influence the outcome of this intergalactic conflict while creating the opportunity to earn rewards for your contributions.
Peculiarities:
The all metaverse concept is still at a primordial stage. Simultaneously, the number of metaverse projects is significantly expanding. Interoperability, security, ownership, and decentralization are all characteristics that blockchain can provide in these digital spaces.
MyLime is the linchpin for smooth integration between the digital and the physical world. Its patented platform grants a true and indissoluble link between the physical asset and its NFT counterpart, strengthening the interoperability and ownership concepts in this rising reality.
What do you think? Will the blockchain-metaverse relationship thrive in the future?